The Challenge of Medicaid Eligibility For individuals or couples facing long-term care needs, qualifying for Medicaid often presents a financial challenge. Medicaid imposes strict limits on income and assets, requiring applicants to “spend down” their wealth to qualify. Without proper planning, families may risk losing significant portions of their estate to meet these eligibility requirements. Our Comprehensive Medicaid Trust Package is designed to help you protect your assets while ensuring that you or your loved ones remain eligible for Medicaid.
Who It's For
Benefits of the Medicaid Planning Package
With tools like the Medicaid Asset Protection Trust (MAPT), your assets are safeguarded from Medicaid’s spend-down requirements. This ensures that wealth is preserved for your beneficiaries, without sacrificing your eligibility for Medicaid.
The Pooled Income Trust allows individuals who exceed Medicaid’s income limits to qualify for Medicaid while still utilizing their income for personal needs.
The Spousal Refusal Letter ensures that the healthy spouse’s assets are protected when the other spouse requires long-term care, preventing the depletion of shared resources.
In some cases, the assets placed in trusts can also bypass the probate process, ensuring a quicker, more private transition of wealth to your heirs.
What's Included
This irrevocable trust allows individuals to protect their assets from Medicaid’s asset limits. Assets transferred into a MAPT are not considered countable by Medicaid, allowing individuals to qualify without needing to “spend down” their estate. It’s ideal for protecting homes and other significant assets while ensuring Medicaid eligibility.
For individuals whose income exceeds Medicaid’s eligibility limits, a Pooled Income Trust can help manage excess income to ensure they still qualify for Medicaid benefits. This trust is commonly used by individuals with higher income to avoid disqualification while still using their income for personal and medical needs.
When one spouse requires Medicaid long-term care, a Spousal Refusal Letter protects the healthy spouse’s assets by legally refusing to contribute them toward the care of the other spouse. This document ensures the financial stability of the non-nursing home spouse while still qualifying the other spouse for Medicaid.
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This document appoints someone to manage financial matters if the Medicaid applicant becomes incapacitated. It’s crucial for ensuring that the person managing the applicant’s finances has legal authority to act on their behalf.
A healthcare proxy allows an individual to appoint someone to make medical decisions if they are unable to do so themselves. This is especially important for Medicaid applicants who may be receiving long-term care and need trusted individuals to handle their healthcare decisions.
A living will outlines the individual’s preferences for end-of-life care and medical treatment. This document helps ensure that medical care aligns with the person’s wishes, which can be important in long-term care situations.